SUI Eyes Breakout from Year-Long Descending Triangle as Key Support Holds

Sui (SUI) is consolidating within a descending triangle pattern, a technical formation that has dictated its price action for nearly a year. Trading at $1.75 as of November 16, 2025, the token mirrors broader market lethargy but finds underlying support from ecosystem developments like the USDsui launch and sustained on-chain activity.

The $1.78 level emerges as critical support on monthly charts, historically serving as a springboard for recoveries. Despite a 24% monthly decline, repeated wicks into this zone without decisive breakdowns suggest latent buyer interest. Analysts note parallels to prior cycles where similar consolidations preceded multi-week recoveries.

On-chain metrics paint a nuanced picture. While Sui's TVL has contracted recently, bullish momentum indicators hint at a potential breakout toward its $5 all-time high. Market participants are watching for confirmation above the $1.60 resistance level as a signal for renewed upward trajectory.